Swiss National Bank Grows Stock Position in MercadoLibre, Inc. $MELI

Swiss National Bank raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 138,200 shares of the company’s stock after acquiring an additional 9,600 shares during the period. Swiss National Bank’s holdings in MercadoLibre were worth $361,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the 1st quarter worth about $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Highline Wealth Partners LLC boosted its position in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group increased its stake in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of MercadoLibre in the first quarter worth about $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 8.5%

Shares of MELI stock opened at $1,899.75 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a market capitalization of $96.31 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The business’s fifty day moving average is $2,230.37 and its 200 day moving average is $2,364.48.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.83 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MELI shares. Benchmark dropped their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Wedbush boosted their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,854.71.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.